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PPP Loan Data — Gravity Systems Inc, Austin, TX

SBA PPP loan data, payroll data, and salaries for Gravity Systems Inc
TX

Gravity Systems Inc

Entity: Corporation

Industry: Other Computer Related Services

Location: Austin, TX

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Gravity Systems Inc is a corporation located at 8127 Mesa Drive in Austin, Texas that received a Coronavirus-related PPP loan from the SBA of $250,149.00 in May, 2020.

$ PPP Loan Information

Loan Size:

$250,149

Jobs Retained:

0 Unreported

Loan Approved:

2020-05-01

Lender:

WELLS FARGO BANK, NATIONAL ASSOCIATION

Gravity Systems Inc received a Paycheck Protection Loan of $250,149 through WELLS FARGO BANK, NATIONAL ASSOCIATION, which was approved in May, 2020.

Based on standard PPP eligibility rules, Gravity Systems Inc's total 2019 payroll expenses were approximately $1.2M in order to qualify for the PPP loan amount received.

Unlike most businesses, Gravity Systems Inc's PPP data does not report the number of jobs retained by their receipt of the Paycheck Protection Loan (some banks did not release this infomation from their loan applications). Without this data, per-employee payrolls for this company cannot be estimated.

Business Information - Gravity Systems Inc in Austin, TX

Gravity Systems Inc
8127 Mesa Drive
Austin, TX 78759

Business Industry

Other Computer Related Services (NAICS code 541519)

Business Owner Demographics

Race / Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Congressional District: TX-10

Similar Companies near Austin

In the Austin area, 13 businesses in the "Other Computer Related Services" industry received a PPP loan. These local businesses reported an average of 26 employees (compared to this company's 0) and received an average PPP loan of $445,252 (compared to this company's $250,149).

Industry PPP Comparison Statistics

Nationwide, 12,205 businesses in the "Other Computer Related Services" industry received a total of $2,142,018,033.00 in PPP loans. These businesses account for 0% of total PPP applications submitted, and received 0% of the total PPP funding allocated.

PPP recipients in this industry report an average of 10 employees, and received an average PPP loan of $175,503, 30% lower than this company's loan of $250,149.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

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Footnotes & Information

1. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.


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** This Document Provided By www.FederalPay.org - The Civil Employee's Resource **
Source: www.federalpay.org/paycheck-protection-program/gravity-systems-inc-austin-tx